Quick Take: RTX - Q2 strong beat and raise; Particular strength in defense

研报英文原文证据摘录

Quick Take: RTX - Q2 strong beat and raise; Particular strength in defense

23 July 2026

Douglas S. Harned, Ph.D.

+1 917 344 8430

Global Aerospace & Defense douglas.harned@bernsteinsg.com

RTX Corporation Adrien Rabier

+44 20 7676 6820

Rating adrien.rabier@bernsteinsg.com

Market-Perform Nestor Wester

Price Target +44 20 7676 7067

nestor.wester@bernsteinsg.com

RTX 213.00 USD Specialist Sales

Steve Song

+1 917 344 8401

steve.song@bernsteinsg.com

Quick Take: RTX - Q2 strong beat and raise; Particular strength in

defense

RTX Corporation reported Q2:2026 earnings this morning. We provide initial views. The

Close Date 22 Jul 2026

company's conference call will be at 7:30 AM ET.

RTX Close Price (USD) 194.88

RTX reported Q2:2026 adjusted EPS of $1.89, above consensus and our estimate of $1.66. Price Target (USD) 213.00

Adjusted revenue of $24.71bn was above consensus $22.90bn. Exhibit 1 shows reported Upside/(Downside) 9%

results vs. consensus/our estimates. Revenues were above consensus and our estimates 52-Week Range 214.50/149.11

in all segments. Pratt’s adjusted sales increased 16% YoY, driven by a 25% increase in the SPX 7,498.96

commercial aftermarket and a 23% increase in military sales, partially offset by a 8% decline FYE Dec

in commercial OE. Commercial OE sales were impacted by large commercial engine mix Div Yield 1.5%

which more than offset increased large commercial engine deliveries. Raytheon’ adjusted Market Cap (USD) (M) 262,442

revenue was up 18% YoY, driven by higher volume on land and air defense systems, naval EV (USD) (M) 296,313

programs, and air and space defense systems. For Collins, sales grew 13% organically driven Performance YTD 1M 6M 12M

by a 26% increase in commercial OE and 10% increase in commercial aftermarket.